Bitcoin's rollercoaster ride through January saw it dip and rise with the whispers of the first U.S. spot Bitcoin ETFs. Yet, amid the "buy the rumor, sell the news" frenzy, not all was lost. CryptoSlate's analysis reveals the surprising resilience of Bitcoin in the clutches of volatility, but it's the critical role of the 'realized price' — particularly the young supply's realized price — that underpins the market's stability. Discover why a specific metric, hovering at $38,370, might just be the key to understanding Bitcoin's defense line and why its stability could signify more than meets the eye. What is this 'realized price,' and why could it change how we interpret Bitcoin's fluctuations? Access Alpha's in-depth analysis to uncover the veiled dynamics of Bitcoin's price resilience.
Bitcoin’s realized price by ‘young supply’ underpins recent price support Bitcoin’s realized price by ‘young supply’ underpins recent price support
Young supply's cost basis created support for Bitcoin's price in a tumultuous market.
2 min read
Updated: Jan. 25, 2024 at 6:58 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.